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Jul 13, 2011
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over ten years, the war on terrorism, iraq and afghanistan together have cost about $1,500,000,000,000. this next year, we're projecting a little over $100 billion to be spent. so i just would say so the amount of the deficit this one year will equal the cost of the afghan and iraq wars over ten years. the deficit this year is is $1,500,000,000,000. the cost of the war this year is about $150 billion. so it's about 10% of the deficit we're running this year. so although it's real and we hope to bring those numbers down and are already projecting next year those numbers to come down closer to $100 billion from from $150 billion, still the cause of our deficit is not the war. it represents about 10% of the total deficit we are running this year. it's just -- that's just the fact. that's what the numbers show. madam president, one of the few things mandated for congress to do every year is to pass a budget. according to the congressional budget act contained in the united states code, signed into law in 1974, the senate budget committee must produce a budget resolution by april 1, adopt a
over ten years, the war on terrorism, iraq and afghanistan together have cost about $1,500,000,000,000. this next year, we're projecting a little over $100 billion to be spent. so i just would say so the amount of the deficit this one year will equal the cost of the afghan and iraq wars over ten years. the deficit this year is is $1,500,000,000,000. the cost of the war this year is about $150 billion. so it's about 10% of the deficit we're running this year. so although it's real and we hope to...
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Jul 14, 2011
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reduce government spending at all levels, including the military, as we bring our troops home from afghanistan. and, yes, it needs to look at the money that we spend through our tax code -- and we've talked about this over and over again. we need to have a balanced approach, a credible approach to manage our debt. and that should be our first option. but under no circumstances should we allow america to default on its obligations, causing harm to every american family. i urge-colleagues to put the national -- i urge my colleagues to put the national interests first, to take off the table the default on our debt, take that off the table, let's put the national interest first, work together to bring about a credible plan to manage our national debt. and with that, mr. president, i would yield the floor and suggest the an -- before i do that, i would suggest the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call:
reduce government spending at all levels, including the military, as we bring our troops home from afghanistan. and, yes, it needs to look at the money that we spend through our tax code -- and we've talked about this over and over again. we need to have a balanced approach, a credible approach to manage our debt. and that should be our first option. but under no circumstances should we allow america to default on its obligations, causing harm to every american family. i urge-colleagues to put...
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Jul 21, 2011
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paychecks for soldiers, in afghanistan and iraq and at bases around the world conceivably wouldn't go out. f.a.a. towers could shut down. border crossings could close. operations at the f.b.i. and the c.i.a. would be put at risk. safety inspections of the food that we eat and the cargo that enters our ports could halt. and the resulting spike in interest rates would ironically make our debt even harder to tackle because each 1% rise in interest rates alone would result in $130 billion in increased interest payments on our national debt each year. perhaps, most importantly, hard-working american families would also feel the crunch. a spike in interest rates would effectively force a tax on all americans and american businesses due to increased consumer costs. just as important, failure to raise the debt limit would lock up credit markets because the u.s. would no longer be seen as a reliable credit risk. coincidentally, mr. president, yesterday an important consumer protection law which senator lugar and i introduced and passed and you helped us with on the floor here last year went in
paychecks for soldiers, in afghanistan and iraq and at bases around the world conceivably wouldn't go out. f.a.a. towers could shut down. border crossings could close. operations at the f.b.i. and the c.i.a. would be put at risk. safety inspections of the food that we eat and the cargo that enters our ports could halt. and the resulting spike in interest rates would ironically make our debt even harder to tackle because each 1% rise in interest rates alone would result in $130 billion in...
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Jul 28, 2011
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an example, the war in afghanistan. some of the most conservative senators on the other side of the aisle not only want us to wage this war but to stay there and keep spending money. know what it costs? it costs $10 billion a month for us to protect our troops in afghanistan. for every dollar that we spend, every dollar that we spend, whether it's on the war, on food stamps, on missiles, on highways, for every dollar we spend we borrow 40 cents. we shouldn't be borrowing all this money, but we do because congress says there are certain things we've got to do as a nation. many of the same senators who have said to the president of the united states don't withdraw the troops from afghanistan, keep them there even longer, are now coming to the floor and saying to the president but we're not going to join in asking for the authority that you need to provide that money for those troops. now the senator from pennsylvania has come here the second day and given his take on what would happen if congress fails to extend the debt
an example, the war in afghanistan. some of the most conservative senators on the other side of the aisle not only want us to wage this war but to stay there and keep spending money. know what it costs? it costs $10 billion a month for us to protect our troops in afghanistan. for every dollar that we spend, every dollar that we spend, whether it's on the war, on food stamps, on missiles, on highways, for every dollar we spend we borrow 40 cents. we shouldn't be borrowing all this money, but we...
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Jul 21, 2011
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over the entire decade, the cost of afghanistan and iraq wars is about $1.3 trillion. and that is a lot of money. again, that's over ten years, over a decade. this year alone, the deficit is expected to be $1.4 trillion. the deficit this year will be larger than the cost of the iraq and afghanistan wars over ten years. the driving force behind our deficit is not the wars in iraq and afghanistan. it's just not. war costs represent only 4% of total outlays over the last ten years. the total amount of money spent since president obama took office is $8.5 trillion. by the end of his first three years in office, we will have added $5 interest to our gross federal deficit. these are stunning numbers. bush had a widely criticized $450 billion deficit. since president obama has been in ofsz the deficits -- in office the deficit looks like it will be $1.5 trillion. we are borrowing too close to half of what we're spending every single day. in the last few years, discretionary spending, non-defense discretionary spending in the last two years increased 24%. 12% a year on average
over the entire decade, the cost of afghanistan and iraq wars is about $1.3 trillion. and that is a lot of money. again, that's over ten years, over a decade. this year alone, the deficit is expected to be $1.4 trillion. the deficit this year will be larger than the cost of the iraq and afghanistan wars over ten years. the driving force behind our deficit is not the wars in iraq and afghanistan. it's just not. war costs represent only 4% of total outlays over the last ten years. the total...
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Jul 6, 2011
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-- or afghanistan, then iraq. both wars totaling well over a trillion, $2 trillion. that will ultimately, both of those, the tax cuts and the wars, accounts for about $7 trillion in deficits in 2009 and going forward. now, madam president, the facts are clear. the tax cuts that president bush put in place contributed to the deficit and the revenues have got to be addressed if we're employing to go forward -- if we're going to go forward and deal with this. federal revenues today, the money the government takes in, is at its lowest level since 1950. we've had a 60% reduction in revenue and a 60% increase in expenditures. and right now, we're at the lowest level of revenue taken in that we've been at since the 1950's. and there are only about 14% of the total g.d.p. the fact is that the last five times we balanced the budget, those revenues were about19% or 20% of g.d.p. so here we are at 14%. we've balanced the budget five times previously. and the revenues were at about 19.5% to 20% of g.d.p. doesn't that tell us
-- or afghanistan, then iraq. both wars totaling well over a trillion, $2 trillion. that will ultimately, both of those, the tax cuts and the wars, accounts for about $7 trillion in deficits in 2009 and going forward. now, madam president, the facts are clear. the tax cuts that president bush put in place contributed to the deficit and the revenues have got to be addressed if we're employing to go forward -- if we're going to go forward and deal with this. federal revenues today, the money the...
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Jul 14, 2011
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let's start with afghanistan and iraq. we're spending $168 billion in iraq and afghanistan this year alone. $168 billion. this year, fiscal year 2011, we're spending more than $13 billion to train the iraqi and afghan security forces. $13 billion. okay. what did we spend here in america to retrain our workers so they can get new jobs? less than $10 billion. we're spending more money to train afghan and iraqi forces, security forces than we're spending to retrain our own workers all over america. 24 million americans unemployed or underemployed and yet we're spending $168 billion this year on afghanistan and iraq. again, i applaud the president for the actions he's taken, but quite frankly, mr. president, they don't go far enough. the president should have a faster timetable for our troops to get out of afghanistan. i've said is that publicly many times. if you really want to save some money, save that $1 million that it costs to keep one soldier in afghanistan and get them back here. we went to afghanistan to get the talib
let's start with afghanistan and iraq. we're spending $168 billion in iraq and afghanistan this year alone. $168 billion. this year, fiscal year 2011, we're spending more than $13 billion to train the iraqi and afghan security forces. $13 billion. okay. what did we spend here in america to retrain our workers so they can get new jobs? less than $10 billion. we're spending more money to train afghan and iraqi forces, security forces than we're spending to retrain our own workers all over...
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Jul 5, 2011
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they came to afghanistan not because they were attacked but because we were attacked. they were our friends, they're our allies. they've been with us trying to make sure afghanistan never goes back into the darkness, a place to attack us or them again. so when they need us, i would tell president obama, now's not the time to sit on the sidelines. i know we're a war weary nation, but there is no upside to qadhafi staying in power. that is a national security nightmare for this country. here's a recent headline. "qadhafi threatens to attack european over airstrikes. colonel qadhafi has threat inned to carry out attacks against homes, offices in europe unless nato calls off the airstrikes in libya." he actually means it. hitler meant it. he means it. so we should be talking about the debt. we're not. we should be taking a stand against qadhafi in an effective way. and as you said, senator mccain, we're leading from behind. and i just cannot tell you how upset i am with policies coming from this administration that are sending a signal to our allies that we're not as relia
they came to afghanistan not because they were attacked but because we were attacked. they were our friends, they're our allies. they've been with us trying to make sure afghanistan never goes back into the darkness, a place to attack us or them again. so when they need us, i would tell president obama, now's not the time to sit on the sidelines. i know we're a war weary nation, but there is no upside to qadhafi staying in power. that is a national security nightmare for this country. here's a...
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Jul 26, 2011
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there are 145,000 troops deployed in iraq and afghanistan who are working long hours every day in the desert heat to protect our freedom. to make sure that we are doing everything we can to root out the terrorists that have attacked america. these men and women all raise their right hand and volunteered to go to defend this nation. the very least that we can do while we are in this kind of budget negotiation, which is making a lot of people nervous -- i have faith that we're going to do the right thing in the end, but it's not clear yet. we're pea a week away. -- we're a week away. so i don't think we should make these people think about whether it's going to happen and if there's going to be delay in a paycheck. so i hope that we'll be automobile to bring this bill up. i can guarantee, if the majority leader will bring up my bill, it will pass. it has 80 cosponsors. the new bill is the same thing except that it just makes the debt payment the priority, which you would hope would not have to be done, but, nevertheless, let's assure that our debtors know that we're going to pay the int
there are 145,000 troops deployed in iraq and afghanistan who are working long hours every day in the desert heat to protect our freedom. to make sure that we are doing everything we can to root out the terrorists that have attacked america. these men and women all raise their right hand and volunteered to go to defend this nation. the very least that we can do while we are in this kind of budget negotiation, which is making a lot of people nervous -- i have faith that we're going to do the...
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Jul 18, 2011
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paychecks for troops in afghanistan and iraq and based around the world could stop. f.a.a. towers could shut down. so could the f.b.i. and the c.i.a., border crossings could close, safety inspections of food americans eat and cargo that enters our ports could halt. literally every function of government could cease. social security checks, payments to our veterans. we've heard that before. there would be no discussion of which operations and personnel were essential. all the payments would very likely stop. some have said we could prioritize which bills to pay. even if that wouldn't irreparably damage our nation's reputation and credit in the global economy and the globe at community, which it would, is also a complete fiction. our government won't even be able to cover the bills due on august 3. it will simply run out of money and because we'll be in default and our credit rating trashed, we'll be able to borrow the money not again to keep running, even if we wanted to. that's a picture secretary geithner painted. like i said, it's grim. many of my republican colleagues un
paychecks for troops in afghanistan and iraq and based around the world could stop. f.a.a. towers could shut down. so could the f.b.i. and the c.i.a., border crossings could close, safety inspections of food americans eat and cargo that enters our ports could halt. literally every function of government could cease. social security checks, payments to our veterans. we've heard that before. there would be no discussion of which operations and personnel were essential. all the payments would very...
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Jul 8, 2011
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cam pays in afghanistan -- campaigns in afghanistan wrapping up activities in iraq, and a new openness that the obama administration has pushed forward. and openness was, has been portray inside the space policy -- portrayed about in the space policy that you hear about now. more of a focus on international cooperation and a look at a different blend of space players in our industrial base, not only the companies that focus on the programs of record, but also the emergence of entrepreneurial and commercial space company. to talk about the obama policy, we have two gentlemen today. first, we have jim cullenberger. jim has a lengthy resumÉ, but i will focus on his time focusing on space policy, and that was as chief of staff for the obama white house, chief of staff for the office of science and technology policy. following jim, we have peter marquez. peter served under both the bush and the obama administrations working space policy, and at that time he was the director of space policy at the white house. but first we're going to start with jim. >> well, thank you, david. and it's grea
cam pays in afghanistan -- campaigns in afghanistan wrapping up activities in iraq, and a new openness that the obama administration has pushed forward. and openness was, has been portray inside the space policy -- portrayed about in the space policy that you hear about now. more of a focus on international cooperation and a look at a different blend of space players in our industrial base, not only the companies that focus on the programs of record, but also the emergence of entrepreneurial...
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Jul 15, 2011
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i mean, we're not talking about the war in afghanistan, we're not talking about raising the debt ceiling. i grant that. but we are talking about something, which is profoundly troubling and disturbing to millions of americans. and it's also necessary. i mean, i thought we were going to do was clear problems here. and 10 years ago the telephone entity came to us two essences for clear problems because they make us look bad if we don't end there you can trust us to do it and they did it. so while i am saying is we are going to stick with this. the sec stated yesterday is now seeking comment on third party billing and i appreciate that. and don't they have settlements, the ftc, but that is all stuff that is already john and also as a mission of guilt. if you settle something, it's a mission of guilt. i'm not a lawyer. i want you to know that, but that's the way i read it. so anyway, in the near future, i plan to introduce working with colleagues from both sides of the aisle, legislation that will put a staff to this because i simply cannot find any green accents and us having to have a hear
i mean, we're not talking about the war in afghanistan, we're not talking about raising the debt ceiling. i grant that. but we are talking about something, which is profoundly troubling and disturbing to millions of americans. and it's also necessary. i mean, i thought we were going to do was clear problems here. and 10 years ago the telephone entity came to us two essences for clear problems because they make us look bad if we don't end there you can trust us to do it and they did it. so while...
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Jul 19, 2011
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afghanistan, iraq, pakistan, libya, and soon as mr. leon panetta says, we'll be fighting in iran. we have military operations all over the middle east. why can't we divert some of those funds, cut some of those wars and not cut social security because social security never impacted on our debt. social security was funded all along so why are we cutting social security? >> guest: well, let me just assure you we are not going to cut social security, okay? i think there might be efforts in the house to cut social security, and it might possibly pass, although i certainly know that the cut cap and whatever it's called won't pass because it requires a two-thirds vote and you need 50 democrats to vote for it, and i don't believe we'll have 50 democrats to vote for it, but i guarantee you if any measure passed the house of social security, it would not be taken up in the senate, and if it did, i believe the president would veto it. you know, you're a retiree, paid into social security, all of your working life, and you deserve to continue to have that guarantee for you, and then i agree
afghanistan, iraq, pakistan, libya, and soon as mr. leon panetta says, we'll be fighting in iran. we have military operations all over the middle east. why can't we divert some of those funds, cut some of those wars and not cut social security because social security never impacted on our debt. social security was funded all along so why are we cutting social security? >> guest: well, let me just assure you we are not going to cut social security, okay? i think there might be efforts in...
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Jul 12, 2011
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and, yes, maybe we've got to bring the troops home from iraq and afghanistan sooner than many here would like or that the president would like, and save substantial sums if we do that. most certainly if we're going to go forward with shared sacrifice, yes, we do have to ask billions, despite all of their power and all of their campaign contributions and all of their lobbying, maybe the billionaires who are doing phenomenally well may have to contribute to deficit reduction. yes, maybe those companies that stash their money in tax hyphens in pwerpld and the cayman eye hraldz -- in bermuda and the cayman islands, maybe they are going to have to start paying their fair share. on my web site which is sanders.senate.gov, i put a small letter which said to the president, mr. president, stand tall. take on these right-wing ideologues who want to make devastating cuts to working families. and in a couple of weeks we have 135,000 signatures on that letter, and i think that letter reflects what the american people want. they want shared sacrifice. they do not want to see the elderly, the kids or w
and, yes, maybe we've got to bring the troops home from iraq and afghanistan sooner than many here would like or that the president would like, and save substantial sums if we do that. most certainly if we're going to go forward with shared sacrifice, yes, we do have to ask billions, despite all of their power and all of their campaign contributions and all of their lobbying, maybe the billionaires who are doing phenomenally well may have to contribute to deficit reduction. yes, maybe those...
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Jul 15, 2011
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and afghanistan? why send all of that money over there? get our troops out of all of these other countries that we need them in. germany and philippines and all of the other places anymore. >> host: here's leslie -- excuse me, tammy in leslie, kentucky. >> caller: yes, they need to bring our troops home and stop spending the millions of billions. they need to help out the people on social security. it's hard to make it especially when you have a family. >> host: florida, linda on the independent line. where do things stand with the debt and deficit negotiations? >> caller: i think personally it's all bull crap. you've got people that is -- has been on the social security because they are either disabled or whatever. bring our troops home. we don't need to support pakistan. look what they did to us, we don't need to support iran. bring us home. get us out of that situation. we have people out here that fought for the country. now they are going to suffer because he wants to cut back the social security, medicare, and medicaid? that's nuts.
and afghanistan? why send all of that money over there? get our troops out of all of these other countries that we need them in. germany and philippines and all of the other places anymore. >> host: here's leslie -- excuse me, tammy in leslie, kentucky. >> caller: yes, they need to bring our troops home and stop spending the millions of billions. they need to help out the people on social security. it's hard to make it especially when you have a family. >> host: florida, linda...
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Jul 27, 2011
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forces in iraq and afghanistan, saving $1 trillion in the process. our troops in the middle east deserve our admiration and praise for so successfully carrying out their missions. we must, however, continue to press for a strategy that will bring our troops home as soon as we safely can. the reid deficit plan would find an additional $40 billion in savings by cutting fraud and abuse in tax compliance and a number of non-defense federal programs and $60 billion in other savings, including cutting unnecessary spending on agricultural subsidies and auctioning off electromagnetic spectrum that the government currently holds. finally, by cutting the government by over $2 trillion, we'll have to borrow less money than anticipated and that will save an additional $400 million -- sorry, $400 billion in projected interest costs. in total, the senate democratic plan on which we will vote would cut the deficits by $2.7 trillion over the next ten years. while senator reid's proposal would not address the tax gimmicks and loopholes throughout our tax code that he
forces in iraq and afghanistan, saving $1 trillion in the process. our troops in the middle east deserve our admiration and praise for so successfully carrying out their missions. we must, however, continue to press for a strategy that will bring our troops home as soon as we safely can. the reid deficit plan would find an additional $40 billion in savings by cutting fraud and abuse in tax compliance and a number of non-defense federal programs and $60 billion in other savings, including...
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Jul 15, 2011
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the treasury of enormous amounts of money at a time that we had two wars raging abroad in iraq and afghanistan, also unpaid for. and a new entitlement program passed in the past congress unpaid for. and a wall street that instead of being a free market was a free-for-all market. you put that all together and that's what we're coming out of. so i'm wondering, you know, your answer to me suggests that there isn't anymore monetary policy that is going to come forward that could in essence seek a more faster, more robust recovery with a greater job growth? >> well, as i said in my, in my testimony, we, given that there's a lot of uncertainty how the economy will evolve, we have to keep all options, both for tightening and for easing on the table. we're doing that. but, again, we are already providing an exceptional amount of accommodation and, as you know, recovery is still pretty slow. >> now i want to turn to the question of the debt ceiling. i know you discussed that quite a bit. i find it interesting under president bush's years, he raised the debt ceiling to the tune of about $5.4 trillion, d
the treasury of enormous amounts of money at a time that we had two wars raging abroad in iraq and afghanistan, also unpaid for. and a new entitlement program passed in the past congress unpaid for. and a wall street that instead of being a free market was a free-for-all market. you put that all together and that's what we're coming out of. so i'm wondering, you know, your answer to me suggests that there isn't anymore monetary policy that is going to come forward that could in essence seek a...